The Google Play Store in India has taken down many crypto exchange apps after the government issued violation notices to them, including Binance and Kraken. This follows a similar decision by Apple in December 2023 for its App Store in India, the reason being all noncompliance notices issued by the Government of India.
On December 2023, an Indian government agency of the Financial Intelligence Unit (FIU) issued notices to nine crypto firms, Binance, Huobi, Kraken, Gate.io, Kucoin, Bitstamp, MEXC Global, Bittrex, and Bitfinex for not complying with India's anti-money laundering rules. Google’s Play Store blocked Binance, though the Binance app and website are still available to existing users.
“Existing users who already have the Binance app are not affected. We remain committed to the adherence of local regulations and laws and we are dedicated to maintaining active communication with regulators to ensure user protection and the development of a healthy Web3 industry,” announced Binance.
The FIU stated that any exchange providing services to users in India will have to register as a 'reporting entity' and file returns with the income tax department.
